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Portugal pays off IMF loan

Portugal’s minister of finance, Mário Centeno, has said that Portugal has paid off the total amount it owed the International Monetary Fund (IMF), with a settlement of €4.7 billion.

At a press conference at the Ministry of Finance in Lisbon this week, Centeno said that the total payment of the IMF loan, which amounts to €29 billion, has been paid, stressing that the savings estimated with the advance payment of what was needed, €4.7 billion, totalled about €100 million.In total, the savings accumulated over the last two years will be €1.16 billion, Centeno said.Centeno also said, that the government maintains the goals for 2018 and 2019 to reduce the debt ratio in GDP to 121.2 percent and 118.5 percent, respectively.